• A lease is a legally binding contract that sets out the terms under which one party agrees to lease property owned by the other party.
  • It guarantees the tenant or tenant the use of the property and guarantees the owner or landlord regular payments over a specified period in exchange.
  • Residential leases are generally the same for all tenants, but there are several different types of commercial leases.
  • The consequences of breaking leases range from mild to devastating, depending on the circumstances in which they were broken.
  • Some protected groups can refuse the lease without any consequences, which usually requires some kind of proof.